Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC) Stock Price Down 19.6% – Here’s What Happened

Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC)’s stock price were down 19.6% on Friday . The stock traded as low as $75.72 and last traded at $76.57. Approximately 306,999 shares traded hands during trading, an increase of 70% from the average daily volume of 180,401 shares. The stock had previously closed at $95.28.

Direxion Daily MSCI Emerging Markets Bull 3X Shares Stock Down 19.6%

The firm has a fifty day moving average price of $77.30 and a two-hundred day moving average price of $67.01. The stock has a market capitalization of $193.72 million, a P/E ratio of 15.39 and a beta of 2.18.

Hedge Funds Weigh In On Direxion Daily MSCI Emerging Markets Bull 3X Shares

Several institutional investors and hedge funds have recently modified their holdings of EDC. Optiver Holding B.V. lifted its position in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 29.4% in the 1st quarter. Optiver Holding B.V. now owns 3,626 shares of the company’s stock valued at $203,000 after acquiring an additional 824 shares in the last quarter. Covestor Ltd lifted its position in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 267.2% in the 4th quarter. Covestor Ltd now owns 1,656 shares of the company’s stock valued at $90,000 after acquiring an additional 1,205 shares in the last quarter. Millington Financial Advisors LLC lifted its position in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 34.9% in the 4th quarter. Millington Financial Advisors LLC now owns 9,129 shares of the company’s stock valued at $498,000 after acquiring an additional 2,361 shares in the last quarter. PMV Capital Advisers LLC lifted its position in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 422.0% in the 1st quarter. PMV Capital Advisers LLC now owns 7,282 shares of the company’s stock valued at $408,000 after acquiring an additional 5,887 shares in the last quarter. Finally, IMC Chicago LLC bought a new position in Direxion Daily MSCI Emerging Markets Bull 3X Shares in the 1st quarter valued at approximately $517,000.

Direxion Daily MSCI Emerging Markets Bull 3X Shares Company Profile

The Direxion Daily MSCI Emerging Markets Bull 3X Shares (EDC) is an exchange-traded fund that is based on the MSCI Emerging Markets index. The fund provides 3x leveraged exposure to a market-cap-weighted index of companies operating in emerging markets. EDC was launched on Dec 17, 2008 and is managed by Direxion.